Leased Veterinary Hospital
For Sale
Contact for pricing
180 E Highland Dr, Oconto Falls, WI 54154
Fee simple interest offered in a purpose-built 2005 veterinary hospital leased to CareVet.
Property Size5,682 SF
Price / SF$139.92
Days on Market189
Property Features for 180 E Highland Dr
General Information
Standard status
Active
Size
5,682 SF
Property subtype
Office
Lease Type
NN
Investment Type
Net Lease
Net Operating Income
$62,424
Building Details
Year Built
2005
Buildings
1
Tenancy
Single
Listing Agency:
Bang Realty
Listed By:
Brian Brockman · License #BRK.200900214
(859) 581-1113
Source:
Crexi
Added: Apr 16
Changed: Oct 21
Last Checked: Oct 20 at 6:14PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Bang Realty
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Investment Insights
Based on property information with market context.
A fee simple veterinary hospital constructed in 2005 comprises 5,682 square feet on a 1.94-acre parcel. The property is currently leased to CareVet, which acquired the practice in February 2024. The lease has approximately three years remaining within the initial five-year base period and includes four additional five-year renewal options.
The property is located along East Highland Drive, described as the city’s primary retail corridor. The remarks state traffic counts exceeding 5,000 vehicles per day and note nearby national and regional retailers such as Piggly Wiggly, NAPA Auto Parts, Dollar General, Burger King, and Vorpahl’s Business Solutions.
The listing further notes the property operates as the only animal hospital within Oconto Falls, with the nearest competing clinic located more than a 15-minute drive away. The lease structure provides 2% annual rental increases throughout the primary term and option periods.
The property is located along East Highland Drive, described as the city’s primary retail corridor. The remarks state traffic counts exceeding 5,000 vehicles per day and note nearby national and regional retailers such as Piggly Wiggly, NAPA Auto Parts, Dollar General, Burger King, and Vorpahl’s Business Solutions.
The listing further notes the property operates as the only animal hospital within Oconto Falls, with the nearest competing clinic located more than a 15-minute drive away. The lease structure provides 2% annual rental increases throughout the primary term and option periods.
Key Highlights
- 5,682 SF purpose‑built veterinary facility constructed in 2005 on a 1.94‑acre parcel
- CareVet‑leased hospital with a tenant acquired in February 2024
- Lease includes ~3 years remaining within the initial five‑year base period plus four 5‑year renewal options
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$68,852
Cap Rate
8.66%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,377,040
$1.4M
Cap Rate 7%
$983,600
$983.6K
Cap Rate 9%
$765,022
$765.0K
Market Conditions
NOI Build-Up for 5,682 SF
Gross rent
$122.7K $21.60/SF
− Vacancy
−$8.0K −$1.40/SF
EGI
$114.8K $20.20/SF
− OpEx
−$45.9K −$8.08/SF
NOI
$68.9K $12.12/SF
Area
Oconto County, WI
Vacancy
6.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,377,040
Cap Rate 7%
$983,600
Cap Rate 9%
$765,022
Alternative Uses
Best Use
Healthcare Medical
$983.6K
$860.7K – $1.15M
NOI $68,852 @ 7.0% cap · market cap 8.66%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.32M
$1.16M – $1.55M
NOI $92,730 @ 7.0% cap · market cap 11.66%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
46
Businesses Nearby
Explore this area
Business Placement
Demographics for 54154, WI
5,432
Population
2,699
Households
2
Avg Household Size
43
Median Age
20%
College-Educated
92%
High-School Grad
80.3 sq mi
ZIP Area
68
Density / Sq Mi
$57,887
Median Household Income
$44,255
Median Earnings
$684
Median Rent
$194,000
Median Home Value
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Frequently Asked Questions
What type of property is this?
Medical center - Fee simple interest offered in a purpose-built 2005 veterinary hospital leased to CareVet.
Where is this medical center located?
The property is located at 180 E Highland Dr Oconto Falls, WI.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: 5,682 SF purpose‑built veterinary facility constructed in 2005 on a 1.94‑acre parcel; CareVet‑leased hospital with a tenant acquired in February 2024; Lease includes ~3 years remaining within the initial five‑year base period plus four 5‑year renewal options
